SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of SDI Logística Rio - Fundo de Investimento Imobiliário - FII BRL 25.42, price BRL 48.57, upside -47.7%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
39‑month range R$44.76 – R$77.80 · fair‑value band R$19.64 – R$36.02 · the R$48.57 price screens above the R$25.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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SDI Logística Rio - Fundo de Investimento Imobiliário - FII specializes in real estate investments.
Stock analysis
SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11) currently trades at R$48.57, while our model-based Fair Value estimate is R$25.42, implying the stock looks roughly 91.1% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of R$55.49 per share, and 1 of the 6 models we run sit above the R$48.57 price.
Bear case: the Multiples group reads lowest at R$23.60, and 5 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: R$19.64 (bear) to R$36.02 (bull), the price of R$48.57 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 44/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue growth is weak, negative or inconsistent.
SDI Logística Rio - Fundo de Investimento Imobiliário - FII reported revenue of R$35.0M in FY2025 versus R$54.9M in FY2021, a compound −10.6%/yr. Reported net income was −R$49.8M in FY2025.
Key figures
Market cap R$466M (≈ $90.5M) · EPS (TTM) R$−6.43 · Net margin −142% · Return on equity −7.2% · Return on assets (EBIT) 3.4% · Operating margin 183% · Revenue (TTM) −R$42.6M · Free cash flow R$39.9M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at −48%, TRBL11 screens richer than that median.
Fair Value models
Bear R$19.64Fair Value R$25.42Bull R$36.02
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.9/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 2 usable fiscal years, at least 4 required
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about +9.1% a year for the price.
Compare SDI Logística Rio - Fundo de Investimento Imobiliário - FII with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Industrial · 55 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score44 · Bottom 25%
Fair Value upside−48% · Bottom 25%
Profitability
Return on assets−6% · Bottom 25%
Net margin (TTM)−142% · Bottom 25%
Operating margin (TTM)183% · Top 25%
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.12× · Lowest 25%
Valuation Multiplesvs REIT - Industrial median · lower = cheaper
P/B0.14× · Cheapest 25%
P/FCF2.3× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)0· sector 16
PAST (return on equity)0· sector 29
HEALTH (low debt)94· sector 77
DIVIDEND (yield)0· sector 100
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "SDI Logística Rio - Fundo de Investimento Imobiliário - FII Fair Value". https://www.fairvalue-calculator.com/stock/TRBL11
Frequently asked questions
Is SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R$25.42 versus a price of R$48.57, about −48% upside (overvalued).
What is the fair value of TRBL11?
Our model-based fair value for SDI Logística Rio - Fundo de Investimento Imobiliário - FII is R$25.42 (as of Sep 24, 2026), built from audited fundamentals. The current price: R$48.57.
What is the quality score of TRBL11?
SDI Logística Rio - Fundo de Investimento Imobiliário - FII has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
Our model-based price target is the fair value of R$25.42 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario R$19.64, optimistic scenario R$36.02. It is a calculation from audited fundamentals, not an analyst target.
What is the SDI Logística Rio - Fundo de Investimento Imobiliário - FII stock forecast for 2026?
Our models put fair value at R$25.42, about −48% upside versus a price of R$48.57 (overvalued). Cautious scenario R$19.64, optimistic scenario R$36.02. The calculation is refreshed regularly with new filings.
What growth is priced into SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
For today's price to be fair in a discounted-cash-flow model, SDI Logística Rio - Fundo de Investimento Imobiliário - FII would have to grow free cash flow by +12.7 % per year for five years (discount rate 15.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -10.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of TRBL11 use?
Our models discount SDI Logística Rio - Fundo de Investimento Imobiliário - FII at 15.7 %: a base by market capitalisation (micro), country premium for Brazil. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SDI Logística Rio - Fundo de Investimento Imobiliário - FII that is +12.7 % per year a year over ten years, using the same discount rate (15.7 %) and the same formula as our fair value.
How much growth has SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11) delivered so far?
Over the past 4 years revenue at SDI Logística Rio - Fundo de Investimento Imobiliário - FII grew -10.7 % a year. The price currently implies +12.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into SDI Logística Rio - Fundo de Investimento Imobiliário - FII (+12.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
The free-cash-flow yield on the price is 10.62 %: that much free cash flow SDI Logística Rio - Fundo de Investimento Imobiliário - FII produces per unit of market value. When it exceeds the discount rate of our models (15.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SDI Logística Rio - Fundo de Investimento Imobiliário - FII it is R$25.42 per share (as of Sep 24, 2026), against a price of R$48.57. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is SDI Logística Rio - Fundo de Investimento Imobiliário - FII stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TRBL11 trades above its calculated fair value: price R$48.57, fair value R$25.42, a gap of about −48% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TRBL11?
No. The price is what the market pays today (R$48.57); the fair value is what the company's own numbers justify (R$25.42). For SDI Logística Rio - Fundo de Investimento Imobiliário - FII the two are R$23.15 per share apart. That gap is exactly why we show both numbers side by side.
How much is SDI Logística Rio - Fundo de Investimento Imobiliário - FII worth?
The market values SDI Logística Rio - Fundo de Investimento Imobiliário - FII at about R$466M (market capitalisation, as of Sep 24, 2026). Per share that is R$48.57; our models calculate a fair value of R$25.42 per share.
What do the bullish and bearish scenarios say about TRBL11?
Our models span a range for SDI Logística Rio - Fundo de Investimento Imobiliário - FII: cautious scenario R$19.64, base R$25.42, optimistic R$36.02 per share (as of Sep 24, 2026, price R$48.57). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
Balance-sheet figures for SDI Logística Rio - Fundo de Investimento Imobiliário - FII (as of Sep 24, 2026): return on equity −7.2%, debt of 0.12 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is TRBL11 from its 52-week high?
SDI Logística Rio - Fundo de Investimento Imobiliário - FII trades at R$48.57, about 36% below its 52-week high of R$75.45 and 8% above the low of R$44.93 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of R$25.42 is for.
Which stocks are comparable to SDI Logística Rio - Fundo de Investimento Imobiliário - FII?
From the same area (Real Estate) we also value Public Storage, a member of the S&P 500,, Prologis, Inc, Extra Space Storage Inc, EastGroup Properties, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SDI Logística Rio - Fundo de Investimento Imobiliário - FII stock attractive at the current price?
The data as of Sep 24, 2026: price R$48.57, calculated fair value R$25.42 (−48%), Quality Score 44/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TRBL11 calculated?
We run SDI Logística Rio - Fundo de Investimento Imobiliário - FII through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$25.42, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. SDI Logística Rio - Fundo de Investimento Imobiliário - FII itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
The closing price on Sep 23, 2026 was R$48.57. Our model-based fair value is R$25.42, about −48% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SDI Logística Rio - Fundo de Investimento Imobiliário - FII right now?
The price sits above even our optimistic bull case (R$36.02). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (R$19.64 to R$36.02) leaves room in how you read the outcome.
Key figures of SDI Logística Rio - Fundo de Investimento Imobiliário - FII
How large is the market capitalisation of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
The market capitalisation of SDI Logística Rio - Fundo de Investimento Imobiliário - FII is R$466M (≈ $90.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
Earnings per share at SDI Logística Rio - Fundo de Investimento Imobiliário - FII are R$−6.43. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
The net margin of SDI Logística Rio - Fundo de Investimento Imobiliário - FII is −142% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
The return on equity (ROE) of SDI Logística Rio - Fundo de Investimento Imobiliário - FII is −7.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
On an EBIT basis the return on assets of SDI Logística Rio - Fundo de Investimento Imobiliário - FII is 3.4% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11)?
The operating margin of SDI Logística Rio - Fundo de Investimento Imobiliário - FII is 183% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much revenue does SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11) generate?
SDI Logística Rio - Fundo de Investimento Imobiliário - FII generates revenue of −R$42.6M (last twelve months). Revenue of the last twelve months (TTM), the most recent full year, not the calendar year.
How much net debt does SDI Logística Rio - Fundo de Investimento Imobiliário - FII (TRBL11) carry?
The net debt of SDI Logística Rio - Fundo de Investimento Imobiliário - FII is R$119M (fiscal year 2025, ≈ 3.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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